Business
AGM and Interim Management St
AGM and Interim Management St.
About this update from Clarkson Plc
[{"type":"text","content":"\n RNS Number : 7722L Clarkson PLC 12 May 2010 \n \n\n12 May 2010\n \nCLARKSON PLC\n(\"Clarksons\")\n \nAGM and Interim Management Statement\n \n \nClarksons, the world's leading shipping services group, today announces its Interim Management Statement published in accordance with the UK Listing Authority's Disclosure and Transparency Rules, for the period from 1 January 2010 to 12 May 2010. \n \nAt the Annual General Meeting to be held in London today, Bob Benton, Chairman of Clarksons, will make the following statement:\n \nTrading \nAs noted at the time of our year end results in March, we have experienced steady improvements in the trading environment since the beginning of the year. While the Broking segment has performed better than expected, overall at this point trading for the year is in line with the Board's expectations.\n \nBroking \nBoth transactional volumes and rates have grown across the Group versus the same period last year. Whilst rates remain significantly lower than the average over the last five years, they have recovered from the lows experienced at the end of 2008 and into 2009. The sale and purchase market has also improved significantly year on year since the beginning of 2010 across most asset classes. We believe these improvements signal a more sustained return of activity to the Sale and Purchase market.\n \nAgainst this market back drop, Clarksons has benefited from its global presence, particularly in the Asian economies. These economies are currently playing an important role in global economic recovery and as the largest broker in the region, we will continue to derive competitive advantage from our reach and expertise. \n \nAs a result of these steady market improvements, US dollar broking revenue has increased year on year for 2010 to date. \n \nFinancial\nOur futures broking business has also experienced improved market conditions year on year, mirroring the pick up in physical markets. However, in keeping with global capital market activity, our investment services business is experiencing longer periods to transaction closure. \n \nSupport\nAs anticipated, this division has grown revenues year on year in 20...